Frankel: I believed my early investment in Olo was a total loss
David Frankel · David Frankel, MP @Founder Collective: Investing Lessons from Seeding Coupang, Pillpack & Suno|E1214 · 20VC with Harry Stebbings · Oct 14, 2024 · at 8:04
David Frankel is the Co-Founder and Managing Partner of Founder Collective. He discusses how slow initial sales cycles in enterprise SaaS can be misleading, recalling his early investment in restaurant software platform Olo.
0:00 / 0:09exact quote · 9.1s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“I remember saying to my wife on Olo, this is done. We've lost a lot. This was pre-founder collective saying, we have lost our money. Like, Noah is never going to get there.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from David Frankel
Frankel: Tiger Global operated like a casino
“Those guys were just like a casino. One call to John at Tiger. Like, 20 on 80, no problem.”
Frankel: Backing successful second-time founders hasn't worked out due to hubris
“I would say generally founders who've had enormous, enormous success and exits come to the next opportunity with some degree of hubris. I speak about this personally. I sold my first business And I thought I could conquer anything. And they look at any vertica…”
Frankel: Live Nation and Ticketmaster merger should never have been allowed
“So Live Nation Ticketmaster, that merger should never have been allowed. But once it's allowed, we will occupy, monopolize that position all day long.”
Frankel: Aiming Exclusively for 'Unicorn or Bust' Seed Returns Is Insane
“I think it's insanity. I just think it's insanity. Like, I think when, I think you market those winners, and again, it's great PR fodder, it's great to, like, attract the investors in the next fund, but I think it's insanity to go, it's like that huge, you kno…”
Frankel: Multi-stage VC firms have no incentive to matchmake for startups
“Sequoia will, it doesn't matter, by the way, I don't want to single out Sequoia here, but it doesn't matter if you take your check from Andreessen, Sequoia, Axel, you name them, right? They will never, they have no incentive to matchmake. They have no incentiv…”